Geographic and services expansion to benefit oil and gas sector in a time of commodity price volatility
SAN ANTONIO & TULSA, Okla.–(BUSINESS WIRE)–Avisto Capital Partners, LLC. today announced the acquisition of Tulsa-based oil and gas accounting firm, The Resource Group (TRG), as part of an expansion of its strategic advisory and bookkeeping services targeted to serve the energy market.
This is Avisto’s second acquisition of a back office advisory service provider in the epicenter of the U.S. crude oil and natural gas producing region. Avisto’s first acquisition, Eddye Dreyer Financial Services (EDFS), based in Dallas, Texas, provides back office support and consulting to clients across the region, focusing on setup, optimization and consulting for clients using WolfePak accounting software. With the addition of TRG, Avisto will be positioned to provide best-in-class industry knowledge for both OGSystems (OGSYS) and WolfePak users, two, top-tier software solutions in the oil and gas industry.
“The addition of The Resource Group to our portfolio of back office advisory companies marks an important milestone for Avisto,” said Bruce Smith, Avisto Capital Partners CEO. “By developing a connected network of regional experts, we are taking the next step towards expanding our solution-based services for energy clients in other regional markets. By supporting two software platforms with strong brands, we can offer alternative solutions and customize the work to add the greatest value to our clients or equity sponsors.”
Scott Phipps, Avisto Capital Partners Senior Vice President Development states that “although the acquisition became effective July 1, Avisto appreciates the great relationships that exist between TRG staff and their clients and has no plans to make personnel changes.” The TRG team, consisting of more than 50 professional and administrative associates will remain with the firm at its current location at 5100 E. Skelly Drive. Phipps continued, “Liz and Amanda have built a top-notch firm here in Tulsa and clients appreciate the value the firm adds. We are excited to be able to bring their solid market reputation to new clients and look forward to finding other ways to expand their service capabilities and best practices to all Avisto’s clients.”
About Avisto Capital Partners
Avisto Capital Partners, LLC. is a San Antonio-based privately held investment, management and development company that is executing a strategy to both build and acquire regional best-in-class technical consulting and accounting solutions and services for the oil and gas industry. The investment criteria requires a business to have a recurring revenue base, premier service offerings, a leading regional presence and favorable relationships with existing customers, private equity and family offices. Avisto’s strategy is to assemble a complete portfolio of accounting, bookkeeping, mineral interest management, regulatory compliance, financial and technical consulting firms to provide the energy sector with a one-stop source for advisory solutions. Avisto’s portfolio includes One Cypress Energy, LLC., Eddye Dreyer Financial Services, LLC. and The Resource Group, LLC.
About The Resource Group
The Resource Group, LLC. was founded in 1996 to serve as a specialized accounting firm exclusively focused on the oil and gas industry. With more than 20 years of experience in public and corporate accounting, finance and investment, TRG services E&P firms, private equity sponsors, and family office clients in exploration, production, gas gathering, hydrocarbon processing, crude oil purchasing and natural gas buying. With extensive experience with clients using OGSYS accounting software, TRG has become known as the go-to accounting and consulting firm in Tulsa and across the region. For more information on their services and industry served, visit http://www.trgllc.com.
About Eddye Dreyer Financial Services
Founded in 1991, Eddye Dreyer Financial Services, LLC. is a leading bookkeeping and financial consulting firm. Eddye Dreyer built this business based on long-term relationships developed broadly across the oil and gas industry. The firm’s growth is directly attributable to word of mouth referrals engendered over nearly 30 years in the business working with E&P firms, private equity sponsors, and family offices. With offices in Dallas, Houston, San Antonio and a presence in Abilene, EDFS is uniquely positioned to serve as both strategists and tacticians, providing a full-service outsourced solution that adds value to their clients’ bottom line. For more information on their services and industry served, visit http://www.edfsllc.com.